Question 1

The actual procedures,mechanisms,and flow of activities by which a service is created and delivered is referred to as

Accepted Answer

A)   process.
B)   procedure.
C)   productivity.
D)   protocol.
E)   plan.F) A) and B)
G) A) and C)

Question 2

The Tesla Motors Model S,an all-electric-powered automobile,is in which stage of its product life cycle?

Accepted Answer

A)   growth
B)   maturity
C)   introduction
D)   decline
E)   accelerated developmentF) B) and C)
G) A) and B)

Question 3

All of the following are benefits to be stressed during the promotion of services except which?

Accepted Answer

A)   low price
B)   consistent quality
C)   location
D)   availability
E)   efficient and courteous serviceF) B) and D)
G) D) and E)

Question 4

In which stage of the product life cycle do marginal competitors begin to leave the market?

Accepted Answer

A)   introduction
B)   growth
C)   decline
D)   maturity
E)   harvestF) B) and E)
G) A) and B)

Question 5

Secret deodorant maintains its leadership position as one of many products in what is typically considered a __________ product category.

Accepted Answer

A)   fad
B)   low-learning
C)   fashion
D)   high-learning
E)   specialtyF) A) and E)
G) D) and E)

Question 6

Charging different prices during different times of the day or during different days of the week to reflect variations in demand for a service is referred to as

Accepted Answer

A)   capacity pricing.
B)   idle production pricing.
C)   customer contact pricing.
D)   derived demand pricing.
E)   off-peak pricing.F) None of the above
G) B) and D)

Question 7

The key idea behind diffusion of innovation is that

Accepted Answer

A)   not all consumers accept a new product at the same time; adoption of a product spreads throughout the population.
B)   once a product enters the market, the time span between awareness and purchase is incredibly short.
C)   the introduction of an entire new product class almost always diffuses the importance of its predecessor within a matter of months.
D)   adoption of a new product line does not change the diffusion rate of older lines in the market.
E)   the rate of adoption is independent of other product form innovations or competitive products in the marketplace.F) A) and D)
G) A) and C)

Question 8

The __________ stage of the product life cycle is characterized by rapid increases in sales.

Accepted Answer

A)   introduction
B)   growth
C)   maturity
D)   decline
E)   harvestF) B) and E)
G) A) and E)

Question 9

The three main benefits packaging provides to manufacturers,retailers,and consumers include which of the following?

Accepted Answer

A)   personal
B)   perceptual
C)   financial
D)   societal
E)   aestheticF) B) and D)
G) A) and C)

Question 10

A contractual agreement whereby one company (licensor) allows its brand name or trademark to be used with products or services offered by another company (licensee) for a royalty or fee is referred to as

Accepted Answer

A)   co-branding.
B)   generic branding.
C)   reseller licensing.
D)   mixed branding.
E)   brand licensing.F) D) and E)
G) A) and B)

Question 11

A strategy for managing a product's life cycle that attempts to find new customers,increase a product's use among existing customers,or create new use situations is referred to as

Accepted Answer

A)   market modification.
B)   product modification.
C)   product repositioning.
D)   product extension.
E)   diversification.F) A) and C)
G) All of the above

Question 12

Figure 10-7

-Companies can employ several different branding strategies.In Figure 10-7,B represents a __________ strategy.

Accepted Answer

A)   retailer branding
B)   multiproduct branding
C)   multibranding
D)   private branding
E)   mixed brandingF) None of the above
G) C) and D)

Question 13

A concept that describes the stages a product goes through in the marketplace-introduction,growth,maturity,and decline-is referred to as the

Accepted Answer

A)   retail life cycle.
B)   product life cycle.
C)   marketing mix.
D)   product growth cycle.
E)   diffusion of product innovation.F) A) and D)
G) B) and D)

Question 14

New Balance,Inc.,successfully repositioned its athletic shoes to focus on fit,durability,and comfort rather than on going head-on against Nike and Adidas on fashion and professional sports.This product repositioning strategy was designed to

Accepted Answer

A)   react to a competitor's position.
B)   reach a new target market segment.
C)   catch a rising trend.
D)   change the value offered to its customers.
E)   accommodate its target audience preference for comfortable sneakers.F) A) and D)
G) C) and E)

Question 15

Explain the difference between primary demand and selective demand.

Accepted Answer

Primary demand is a desire for...

Question 16

The classifications of innovators,early adopters,early majority,late majority,and laggards are all based upon

Accepted Answer

A)   how frequently a consumer uses a product.
B)   the number and strength of competitors.
C)   when consumers begin buying a new product.
D)   the time it takes to educate a consumer in the use of a new technology.
E)   how quickly consumers respond to an advertising message or campaign.F) D) and E)
G) A) and B)

Question 17

During the introduction stage of the product life cycle,__________ pricing strategy may be used.This pricing strategy charges a high initial price to recoup the costs of product development.

Accepted Answer

A)   a penetration
B)   a cost-plus
C)   a target ROI
D)   a skimming
E)   an above-marketF) B) and D)
G) D) and E)

Question 18

When Proctor & Gamble revamped Pantene shampoo and conditioner with a new vitamin formula and relaunched the brand with a multimillion-dollar advertising and promotion campaign,what strategy did it use to manage the product through its life cycle?

Accepted Answer

A)   market modification
B)   product redevelopment
C)   market-product synergy
D)   product positioning
E)   product modificationF) A) and E)
G) A) and B)

Question 19

Many services depend on __________ for the creation and delivery of the customer service experience.

Accepted Answer

A)   people
B)   government
C)   process
D)   productivity
E)   physical environmentF) C) and D)
G) B) and D)

Question 20

The swoosh that appears on every Nike product is an example of a

Accepted Answer

A)   copyright.
B)   trade name.
C)   patent.
D)   brand name.
E)   label.F) C) and E)
G) A) and C)

Exam 10: Managing Successful Products, services, and Brands

The three main benefits packaging provides to manufacturers,retailers,and consumers include which of the following?

Correct AnswerverifiedShow Answer

Figure 10-7 -Companies can employ several different branding strategies.In Figure 10-7,B represents a __________ strategy.

Correct AnswerverifiedShow Answer

Explain the difference between primary demand and selective demand.

Correct AnswerverifiedPrimary demand is a desire for...View AnswerShow Answer

Many services depend on __________ for the creation and delivery of the customer service experience.

Correct AnswerverifiedShow Answer

The Tesla Motors Model S,an all-electric-powered automobile,is in which stage of its product life cycle?

Correct AnswerverifiedShow Answer

When Proctor & Gamble revamped Pantene shampoo and conditioner with a new vitamin formula and relaunched the brand with a multimillion-dollar advertising and promotion campaign,what strategy did it use to manage the product through its life cycle?

Correct AnswerverifiedShow Answer

A concept that describes the stages a product goes through in the marketplace-introduction,growth,maturity,and decline-is referred to as the

Correct AnswerverifiedShow Answer

A contractual agreement whereby one company (licensor) allows its brand name or trademark to be used with products or services offered by another company (licensee) for a royalty or fee is referred to as

Correct AnswerverifiedShow Answer

The __________ stage of the product life cycle is characterized by rapid increases in sales.

Correct AnswerverifiedShow Answer

A strategy for managing a product's life cycle that attempts to find new customers,increase a product's use among existing customers,or create new use situations is referred to as

Correct AnswerverifiedShow Answer

The swoosh that appears on every Nike product is an example of a

Correct AnswerverifiedShow Answer

The key idea behind diffusion of innovation is that

Correct AnswerverifiedShow Answer

In which stage of the product life cycle do marginal competitors begin to leave the market?

Correct AnswerverifiedShow Answer

The classifications of innovators,early adopters,early majority,late majority,and laggards are all based upon

Correct AnswerverifiedShow Answer

Charging different prices during different times of the day or during different days of the week to reflect variations in demand for a service is referred to as

Correct AnswerverifiedShow Answer

All of the following are benefits to be stressed during the promotion of services except which?

Correct AnswerverifiedShow Answer

Secret deodorant maintains its leadership position as one of many products in what is typically considered a __________ product category.

Correct AnswerverifiedShow Answer

The actual procedures,mechanisms,and flow of activities by which a service is created and delivered is referred to as

Correct AnswerverifiedShow Answer

New Balance,Inc.,successfully repositioned its athletic shoes to focus on fit,durability,and comfort rather than on going head-on against Nike and Adidas on fashion and professional sports.This product repositioning strategy was designed to

Correct AnswerverifiedShow Answer

During the introduction stage of the product life cycle,__________ pricing strategy may be used.This pricing strategy charges a high initial price to recoup the costs of product development.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Primary demand is a desire for...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified